Oct 8, 2012 12:00am EDT
so successful. one then we all agree on the state of the economy, that the technology companies in silicon valley and seattle, increasingly in new york are the kind of envy of the world and one key reason for that i think is that the internal structure of these corporations was much more pure network way it worked. much lies hierachical, the decision making in silicon valley firm is much less about the boss at top and much more empowering local employees to make decisions on their own, to innovate on their own. they're much more egalitarian the way they share the proceed. a lot of these company have extensive stock options plans where the lowest level employee participates when the company goes public and so on. all that stuff was new, when the first silicon valley, fairchild and intel founded in '60s and early '70s. they had this ethos where they were founded by a bunch engineers. they didn't have a lot of executive perks an everyone should participate in the production of the company. that practice i think is part of why the silicon valley and tech sector has been so successful.
Oct 13, 2012 9:00am EDT
complicated, because of the economy is so complicated, the city is so complicated, trying to understand it is too hard for a small group of centrally located planners to be able to do that. no individual person has to understand the whole thing. the market works because everyone understands a little bit of it. >> host: milton friedman's pencil. >> buying and selling and creating, the totality of these agents coming up with new solutions meeting people's needs. networks are a peer market where peer progressives defer from traditional libertarians is we don't think markets solve every problem in society. there are many facets of human experience that are not necessarily solve by markets. markets create their own problems. there are a lot of companies trying to build a global network that would unite computers around the world and they all failed compared to this open source peer produce solution of the internet and the web and wikipedia and other things. there are places you can use that without it involving traditional market relations and that is what peer progressives are trying to do.